OVID: Wainwright price target raise to $4 on OV329/KCC2 confidence

 

HC Wainwright price target raise to $4 on OV329/KCC2 confidence drives 18.65% OVID surge.

H.C. Wainwright increased its price target on Ovid Therapeutics from $2.00 to $4.00 while maintaining a Buy rating, citing greater conviction in the OV329 program’s safety and potential as a best-in-class GABA-aminotransferase inhibitor following positive March 2026 Phase 1 data (no treatment-related adverse events at the 7 mg dose). The upgrade also highlights the upcoming KCC2 Deep Dive R&D event scheduled for April 14, 2026—announced by the company on April 8—which will showcase the first-in-class KCC2 activator portfolio, translational data, development strategy, and market opportunity for epilepsy and related disorders. This catalyst builds directly on recent momentum: the March private placement, OV329 indication expansion, Phase 1 clearance for OV4071 (triggering a warrant exercise window that could bring in up to an additional ~$54 million by April 17), and analyst reaffirmations such as Wedbush’s Outperform/$7 target. With the stock closing at approximately $2.60 on April 8, the upgrade and anticipation for next week’s event sparked heavy buying interest and the sharp intraday move. No new clinical data or company press release was issued on April 9.

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